April 28, 2009 (FinancialWire) — United States Steel Corp. (NYSE: X) plans to offer 18 million shares of common stock and $300 million of senior convertible notes due 2014.

The company plans to use the net proceeds from the offerings to repay amounts outstanding on its $500 million three-year term loan due 2010. Any remaining proceeds from the offerings will be used to repay amounts outstanding on the company’s $500 million five-year term loan due 2012 and then for general corporate purposes.

As of March 31, 2009, there was around $180 million and $475 million outstanding on the company’s three-year term loan and five-year term loan, respectively.

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